2023-07-31 14:37:14
Aldar Real Estate
Aldar Properties, listed on the Abu Dhabi Stock Exchange, announced, on Monday, a 52 percent increase in profits in the second quarter, driven by record sales in development projects and strong contributions from its revenue portfolio.
The company that established the Formula 1 circuit in Abu Dhabi said it made a net profit of 1.3 billion dirhams ($354 million) in the three months ending on June 30, up from regarding 842 million dirhams in the same period last year.
She added that sales of development projects hit a record high of 11.6 billion dirhams, with ten new projects launched since the beginning of this year, exceeding the number of projects that were launched last year.
Aldar Properties indicated that the demand from international clients and residents continues to increase, in light of the demand for buying real estate for investment and residence in Abu Dhabi.
The company stated in its statement published on its Abu Dhabi Stock Exchange website that the acquisitions carried out by the company during the past year contributed to accelerating its growth, achieving strong returns, and contributing positively to net profits.
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